Future Group brings back Mayur Toshniwal to head supply chain operations

For Toshniwal, who co-founded energy management firm AllGreen Eco Tech before taking up this new assignment, it will be his second stint at Future Group.Sagar Malviya | ET Bureau | August 18, 2017, 07:26 IST

MUMBAI: Future Group has appointed Mayur Toshniwal to head Future Supply Chain Solutions and inducted new members to the logistics arm’s board, in top-level moves ahead of a planned Rs 700-crore initial public offering.

For Toshniwal, who co-founded energy management firm AllGreen Eco Tech before taking up this new assignment, it will be his second stint at Future Group — he was with the retailer for several years till 2011, during which time he headed Pantaloon in northern India and telecom businesses T24.

The IIM Ahmedabad alumnus has also worked with Asian Paints and Coca-Cola “Our supply chain operations are the biggest drivers in reducing cost while increasing speed of our retail business. We need to have leadership in the supply chain space to drive efficiencies and productivity through technology,” said Future Group CEO Kishore Biyani.

Future Supply Chain has also added four new members to its board —Rahul Garg, partner at Premji Invest; Bala Deshpande, managing partner at NEA Advisory; and IIM faculty Amar Sapra and Janat Shah.

The company will file its draft prospectus with capital markets regulator Sebi in a month, according to people familiar with the matter. Future Group did not respond to ET’s query in this regard.

ET earlier reported that the board of Future Enterprises — the holding company which owns Future Supply Chain — has approved divestment of part of its investments in Future Supply Chain and authorised a committee to consider various options to encash up to Rs 700 crore. The decade-old Future Supply Chain posted revenue of Rs 561.2 crore and net profit of Rs 45.8 crore for FY17. More than 40% of its revenue comes from third-party clients Mondelez, P&G, Tata Motors and Hitachi, among others.